Are you depending on an IRA or 401K retirement plan? Learn how a 401k rollover with IRA investment options can secure your financial future.
If you’re like most employees with an IRA or 401K retirement plan, you probably don’t give it much thought. The risk portfolio you selected when opening the account has most likely not be evaluated and adjusted, even though your needs for stability and risk have changed. Perhaps you believe that your small contributions every payday will produce enough money when it comes to your retirement years. The reality is this. More people are living longer and are outliving their retirement funds. Social security is not likely to be available at all for Millennials. Most employers today are not even matching employee contributions. Employee account managers are helping themselves to large fees which are seriously impacting investment returns. Fortunately, there are good IRA investment options for a retirement savings plan that will secure your financial future. This begins with a tax-free 401k or IRA rollover.
Common Questions About 401k and IRA Rollovers
A 401k or IRA rollover moves your retirement savings from your retirement plan at work into an Individual Retirement Account (IRA) where your savings remain tax-deferred and you have a broader choice of investments. The rollover provides you with IRA investment options for wealth building and achieving a financially secure retirement.
Your employer cannot take or keep this money. It is yours by law. Most 401k plans have a separate plan administrator who is responsible for the management of your plan.
Annuities can fill a critical gap in your retirement funds. They grow your investment and offer options for a protected monthly income for the rest of your life. Unlike a 401K and IRA, there are no limits to how much you can contribute to an annuity. Many annuities do not charge any fees.
No one single strategy will meet all of your financial needs for a happy, secure and prosperous retirement. This requires an action plan designed to meet your financial needs for security, wealth accumulation, living expenses, and asset protection. Your plan should meet your needs throughout your retirement regardless of the length of your life.